A Look at Global TMT Market Status and Internet User/Usage Propensity In this Technology, Media, and Telecommunications (TMT) report, we analyze what we believe are the near and long-term opportunities for Internet user/usage growth on a global basis, both from the perspective of an analyst/investor and from a strategic/business development stance. Based on our analysis, the Internet penetration rates in each region in our study are lower than the penetration rates of almost all other TMT products and services. Fundamentals for Internet Users, Uses, and Usage (we call this IU3 or IU-cubed) growth should remain strong. On a global basis, were Internet penetration to reach the levels of other more mature TMT products/services, global Internet users could rise 360% to 1.4 billion users. Our conservative Global Internet user CAGR is 23% (to 2003). We believe this level of growth supports our long-held view that the select group of Internet leaders, if they execute, such as America Online, Yahoo!, Amazon.com, eBay, and VeriSign, should benefit (financially and with share price appreciation) from the growth. TMT: Global Market Opportunity for Internet Users – Part 1 of 2 (16 pages) TMT: Global Market Opportunity for Internet Users – Part 2 of 2 (20 pages) Client Link FXall MultexNET First Call TheMarkets.com